{"id":16176,"date":"2025-07-17T10:56:11","date_gmt":"2025-07-17T10:56:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/16176\/"},"modified":"2025-07-17T10:56:11","modified_gmt":"2025-07-17T10:56:11","slug":"shares-in-seven-i-plunge-7-after-couche-tard-withdraws-takeover-bid","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/16176\/","title":{"rendered":"Shares in Seven & i plunge 7% after Couche-Tard withdraws takeover bid"},"content":{"rendered":"

A 7-Eleven convenience store, operated by Seven & i Holdings Co., in Kawasaki, Japan, on Monday, Aug. 19, 2024.\u00a0<\/p>\n

Bloomberg | Bloomberg | Getty Images<\/p>\n

Shares of Seven & i plunged Thursday as trading resumed following a brief halt after Canada’s Alimentation Couche-Tard withdrew its $47 billion bid to acquire the Japanese company.<\/p>\n

Seven & i stocks were trading 7.38% lower after declining more than 9%, data from LSEG showed.<\/p>\n

Convenience store operator Couche-Tard announced Wednesday that it was pulling its takeover bid for Japan’s Seven & i Holdings, citing a “persistent lack of good faith engagement.”<\/p>\n

“There has been no sincere or constructive engagement from 7&i that would facilitate the advancement of any proposal, contrary to comments made publicly by 7&i representatives,” the Canadian retailer said in a statement<\/a>.<\/p>\n

The operator of 7-Eleven stores expressed disappointment at Couche-Tard’s “unilateral” termination of talks and withdrawal of its bid, and said it disagreed with many of the company’s “inaccurate statements,” according to a Google translation of Seven & i’s statement in Japanese.<\/p>\n

Stock Chart IconStock chart icon\"hide<\/p>\n

Performance of Seven & i stocks in the past one year<\/p>\n

The company in 2024 rejected a buyout bid from Couche-Tard, which had initially made\u00a0an offer of $14.86 per share<\/a> in August last year, saying it\u00a0“grossly undervalues”<\/a>\u00a0the company.<\/p>\n

Couche-Tard then\u00a0reportedly raised<\/a>\u00a0its offer in October by over 22% to $18.19 per share, valuing Seven & i at 7 trillion Japanese yen, or about $47 billion.<\/p>\n

“As we have expressed many times, we do believe that fully combining our two companies is the most straightforward and effective way to maximize value to all stakeholders,” Couche-Tard said. “However, we are not able to effectively pursue this combination without deeper and genuine further engagement from 7&i leadership and the special committee.”<\/p>\n

Trading in Seven & i shares was suspended on Thursday before resuming at 10.16 a.m. local time (Wednesday 9.16 p.m. ET)<\/p>\n

“The moat of Japanese protectionism proved too much for Couche-Tard to cross,” said Andrew Jackson, head of Japanese equity strategy at Ortus Advisors.<\/p>\n

He added it was always “highly unlikely” that the deal was going to be successful given Seven & i’s positioning as “one of Japan’s most successful global companies” and its classification as “core” to Japan’s national security.<\/p>\n

Seven & i Holdings replaced Ryuichi Isaka as CEO with outside director Stephen Dacus in May<\/a>.<\/p>\n

\u2014 CNBC’s Lim Hui Jie contributed to this report.<\/p>\n","protected":false},"excerpt":{"rendered":"A 7-Eleven convenience store, operated by Seven & i Holdings Co., in Kawasaki, Japan, on Monday, Aug. 19,…\n","protected":false},"author":2,"featured_media":16177,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[8073,4,116,28,122,103,101,3471,112,5103],"class_list":["post-16176","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-asia-economy","tag-breaking-news","tag-breaking-news-markets","tag-business","tag-business-news","tag-canada","tag-economy","tag-japan","tag-markets","tag-world-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/16176","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=16176"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/16176\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/16177"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=16176"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=16176"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=16176"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}